BRIEF-Torchlight takes back control on the Orogrande project with Farm In

Reuters Staff

1 Min Read

Nov 16 (Reuters) - Torchlight Energy Resources Inc

* Torchlight takes back control on the Orogrande project with Farm In

* Torchlight Energy Resources Inc - ‍company will take back operational control from Founders Oil And Gas on its orogrande basin project​

* Torchlight Energy Resources Inc - ‍Torchlight will be joined by Wolfbone Investments Llc, a company owned by Greg McCabe, Torchlight’s chairman​

* Torchlight Energy-‍two entities have entered into Farm In agreement with founders, will share remaining commitments under prior agreement with founders​

* Torchlight Energy - ‍all original provisions of Torchlight’s carried interest will remain in place including reimbursement to company on each Wellbore​

* Torchlight Energy - ‍Torchlight’s interest in project will increase by 20.25% working interest to a total of 67.75% and Wolfbone will also own 20.25%​ Source text for Eikon: Further company coverage: